RE: Proposed Changes to Steem Economy
It is also possible to consider a model where only new investments have the shorter lock time, but existing SP/VESTS still have to power down at the existing 2-year schedule (possibly to repower up under the new schedule). That has advantages and disadvantages; I have no strong opinion on it either way. I'm just putting it out there is case others want to comment on it.
I also think, that there should be two "lock periods", old one.. and new one. If suddenly everyone would have a possibility of selling 24-3=21 months earlier, then we can encounter even bigger dump.
In the other hand... with two "lock periods" system will become even more complicated for new investors... and... there will be no reason to no power down all funds, even to just power up one more time, but for shorter period.
So... maybe "2 years period" should be still there.. but there should be higher return from longer lock?
Agree with this. A concern with two "tiers" for SP is that current 2 year locks have entered the arrangement with the understanding that their interest rate is crazy high. To change the game is a pretty tough pill to swallow (and will be greatly affected by market conditions, for good or ill).
As for the shorter time period, there will naturally be a dump. You can count on it. But that's what markets do, and this overall plan would free up the market more, distributing Steem to more hands and, IMO, adding greater long-term stability.